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Author Question: If a life insurance policy lapses for nonpayment of premiums, and the policyholder has not elected ... (Read 44 times)

lak

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  • Posts: 546
on: Jul 11, 2018
If a life insurance policy lapses for nonpayment of premiums, and the policyholder has not elected another option, which nonforfeiture option usually goes into effect in most policies?
 
  A) reduced paid-up insurance
  B) one-year term insurance
  C) extended term insurance
  D) payment of cash value

Question 2

Easy Pay Life Insurance Company allows a term insurance rider to be added to its whole life policies. The result is a policy that offers an increased death benefit with an affordable premium. The general name for such a policy is a(n)
 
  A) blended policy.
  B) indexed policy.
  C) joint life policy.
  D) endowment policy.


otokexnaru

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: C

Answer to Question 2

Answer: A


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